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LONICH PATTON EHRLICH POLICASTRI
1871 The Alameda, Suite 400, San Jose, CA 95126
Phone: (408) 553-0801 | Fax: (408) 553-0807 | Email: contact@lpeplaw.com
LONICH PATTON EHRLICH POLICASTRI
Phone: (408) 553-0801
Fax: (408) 553-0807
Email: contact@lpeplaw.com
1871 The Alameda, Suite 400
San Jose, CA 95126
Located in San Jose, Lonich Patton Ehrlich Policastri handles matters for clients in northern California, specifically San Jose and Silicon Valley. Our services are available to anyone within the following counties: Santa Clara, San Mateo, Contra Costa, Santa Cruz, Monterey, San Benito, and San Francisco. For a full listing of areas where we practice, please click here.
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How Are Assets Divided in a Divorce?
/in Family Law /by Gina PolicastriNo couple gets married expecting to divorce eventually. Unfortunately, there are many situations that might arise (e.g., infidelity, incompatibility, irreconcilable differences, etc.) when divorce becomes the best option. Untangling your joint finances is often one of the most complicated issues. So what happens to your assets in a divorce?
You and your spouse must work together to agree on how to split up property. In this case, property includes (1) anything that can be bought or sold like real estate, household goods, jewelry, vehicles, etc., as well as (2) anything that has value like income, investment and retirement accounts, stocks, etc. If you had a prenuptial or postnuptial agreement in place, this process is usually faster and smoother, and the court will most likely follow the agreed-upon terms regarding division of assets.
In the absence of a pre- or postnuptial agreement, and if you and your spouse cannot agree, the court will decide these issues for you. Divorce laws vary from state to state but all states fall into one of two categories:
Division of Assets in California
California is a community property state, so it’s important to know what the state considers community property versus separate property. In general, community property is everything you own or owe together while married. For instance, if you bought a house together and paid the mortgage while married, both the house and any outstanding debt belong to both of you.
Separate property, on the other hand, is anything you owned or owed before your marriage or after your separation, or any individual inheritance or gifts. Determining the official date of separation varies for different couples. Some consider the date of separation the day they moved out. Others might choose the date you told your spouse you wanted a divorce or filed for divorce, or the date you decided together to move forward with a divorce. Anything you earned, bought, or owe after the date of separation is separate property.
Each spouse is allowed to keep all separate property, but all community property will be split evenly between spouses. You will need a formal court order, but this process is easier if you and your spouse can develop a divorce agreement that outlines how you both want community assets distributed. If your divorce is contentious, or you simply cannot agree, the courts will decide how to divide your assets during a hearing or trial.
We Can Help Protect Your Interests
At Lonich Patton Ehrlich Policastri (LPEP Law), our family law attorneys are experts in property division issues in California. We have years of experience in protecting our clients’ interests in cases of divorce. We work together with other professionals like property evaluators, accountants, forensic accountants, and business evaluators to ensure an accurate representation of all your assets, determine marital vs separate property, and assess the value of property, as well as discover any hidden family assets. Let LPEP make sure you get what you deserve. Call us today at (408) 553-0801 to schedule a free, 30-minute consultation.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
Non-Dissolution/Paternity Case Related Name Changes
/in Family Law /by Riley Pennington and Aiden ArmstrongChanging your legal name can be important to you for a variety of personal reasons. Maybe you’ve gone through a separation, adopted a child, or are simply looking for a fresh start. Completing a name change can be daunting and often leaves people not knowing where to start. However, this article will run you through step-by-step instructions to help simplify the process. There are two different categories when it comes to a name change: Those who seek a name change stemming from a divorce/paternity matter and those who seek a name/gender change for general reasons. Name changes stemming from divorce go through the Family Court, while non-divorce-related name/gender changes occur in the Probate Court. It is important to know the difference between the two
General Name or Gender Change
Each state has its own laws, procedures, and regulations regarding adult name or gender changes, but in California, there are a variety of forms that allow a person to obtain a name change, gender change, or both. Each desired outcome has its own set of forms, which can be found at: https://www.scscourt.org/self_help/probate/namechange/namechange.shtml. To initiate a name or gender
change for a minor the forms can be found at: https://www.scscourt.org/self_help/probate/namechange/namechange.shtml and you will follow the same
process that is detailed below. If any problems arise while filling out these forms, it is best to contact a local attorney who is well-versed in this area of the law.
A. What to do once the forms are completed.
The forms need to be filed with the Probate Division at the Downtown Superior Court. Bring all the original forms, plus one additional copy. The clerk will file them if they are completed correctly. The clerk will then collect a filing fee (fee schedule can be found at local fee schedule ). Once filed, you will
receive a case number. After the forms are filed, take your filed-endorsed copies of the NC-120 to a “newspaper of general circulation” in Santa Clara County for publication. The law requires the paper to publish the NC-120 for four (4) weeks in a row before the party’s hearing. This should be done immediately because the publication process must be complete prior to the hearing.
B. Attend Hearing
When you attend the hearing, the judge will issue a decision. After that decision is made, the judge will sign a decree. If the name change is granted, the judge will sign the decree. If the judge rejects the change, the request will be denied. Ensure that the decree that has been prepared (NC-130) is filled out correctly
before being signed.
C. Obtain a Certified Copy of the Decree
Topic: How to Complete a Name Change
Law Clerk: Aiden Armstrong
First Draft
Once the decree has been signed, a certified copy will be available for pick up at the clerk’s office. A certified copy will be required to obtain government documents with the new name. The client will then be able to take the decree to any government office to obtain new documents.
How to Obtain a Domestic Partnership
/in Estate Planning /by Gretchen BogerFor many couples, domestic partnerships have emerged as a modern, refreshing alternative to a traditional marriage. Whether you’re a same-sex couple seeking legal recognition or a pair looking to solidify your union without the formality of marriage this article will teach you the basics of domestic partnerships in California.
What is a domestic partnership?
A domestic partnership is a legally recognized relationship between two individuals who have chosen to live together and share their lives without entering into a formal marriage. While the specific rights and benefits associated with domestic partnerships can vary depending on the jurisdiction, they generally provide a legal framework for committed couples to enjoy many of the same privileges and protections that married couples do.
Domestic partnerships are often sought by individuals who want to solidify their relationships without the formalities and expectations that marriage entails, or by same-sex couples in places where marriage equality has not been fully realized.
What are the benefits of a domestic partnership?
Entering into a domestic partnership offers a range of benefits, which can vary based on the specific laws and regulations of your state. While the advantages may differ, here are some common benefits associated with domestic partnerships:
Because the specific benefits and requirements of domestic partnerships can differ significantly depending on where you live, it’s essential to consult with legal professionals in your area to understand the full scope of benefits and responsibilities associated with domestic partnerships.
How to obtain a domestic partnership in California
California has been a trailblazer in recognizing domestic partnerships, offering legal recognition and benefits to couples in various types of committed relationships. In California, you must meet certain eligibility criteria to enter into a domestic partnership. Both individuals must be at least 18 years old and not married or in another domestic partnership. There are no restrictions based on gender.
As long as you and your partner meet the eligibility criteria, you can complete the necessary forms and file them with your county clerk’s office. Once your forms are submitted, they will be reviewed and processed by the county clerk’s office. This may take several weeks, so be prepared for some waiting. Upon approval, you will receive a domestic partnership certificate, which serves as legal proof of your partnership.
Contact LPEP for expert legal assistance
California’s recognition of domestic partnerships demonstrates a commitment to providing legal protections and benefits to a diverse range of couples. However, the specific requirements and procedures may change over time, so it’s crucial to seek legal assistance before you get started.
At Lonich Patton Ehrlich Policastri, we specialize in assisting our clients to obtain domestic partnerships and representing same-sex couples and others who have entered into domestic partnerships. Contact us here or call (408) 553-0801 to schedule your free consultation.
Disclaimer: This article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
How Is Child Support Determined in California?
/in Estate Planning /by Virginia LivelyA primary concern of divorcing parents is how it will impact their children’s standard of living. In the state of California, both parents are legally responsible for the financial well-being of their children.
But how does the court determine the amount each parent should provide?
There are many considerations that go into determining child support, and it starts with a formula from California Family Code § 4055 that takes into account the parents’ combined total income and the amount of that which must go towards financial support:
CS = K[HN – (H%)(TN)]
CS = child support amount
K = the combined amount of both parents’ income that is to be allocated towards financial support
HN = the net monthly disposable income of the parent who earns more
H% = the approximate percentage of time the higher earning parent has physical custody of the child compared to the other parent
TN = total net monthly disposable income of both parties
Each parent’s net disposable income includes the following:
Another key factor in determining child support is custody and time-sharing. The custodial parent, who has the child for the majority of the time, typically receives child support from the non-custodial parent.
In a 50/50 custody situation, child support may still be required from the higher earner.
The purpose of child support is to ensure the availability of financial resources necessary for their well-being, including:
Child support orders are not set in stone. They can be modified if there are changes in circumstances, such as a significant change in income or alterations in custody arrangements. Only a court order can change the amount of financial support.
Even if both parents agree on the new amount, it still must be approved by the court.
Additionally, non-payment of late payment of child support can lead to legal consequences, including wage garnishment, property liens, or applying any tax refund toward the delinquent amount.
Understanding how child support is determined in California can be complex. Still, it’s crucial to ensure a fair outcome for all parties involved and protect the best interests of the child. If you’re navigating child support issues, consider seeking advice from a legal professional who specializes in family law. Our attorneys at Lonich Patton Ehrlich Policastri work with families throughout San Jose, Silicon Valley, and the Greater Bay Area. We can assist you in navigating the legal process and answer any questions you may have.
Contact us for a free consultation by calling (408) 553-0801.
Disclaimer: This article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
Will My Estate Plan be Impacted by the Corporate Transparency Act?
/in Estate Planning /by Michael LonichIf you have taken the time to create an estate plan, then you understand the importance of ensuring your family’s financial security after you have passed away. You have taken the necessary steps to enable your assets and estate to be passed on with minimum complications and taxes.
However, in recent times, new laws and regulations are changing how individuals prepare for the future.
One law that has caught people’s attention is the Corporate Transparency Act (CTA) and how it may impact their estate plans. Understanding the purpose of the CTA and its implications can help you decide if you need to revise your estate plan.
What is the Corporate Transparency Act?
The Corporate Transparency Act was signed into law in January 2021. The purpose of the act is to enhance the transparency of corporate entities and prevent illicit activities such as money laundering, financing terrorists, tax evasion, and other illegal financial acts.
Starting January 1, 2024, many companies in the United States will need to disclose information to the Financial Crimes Enforcement Network (FinCEN) regarding beneficial ownership, the individuals who actually own or control the company. Both new and existing businesses will need to comply, and the reports will be stored in a secure, non-public database that will only be accessible to authorized government agencies and law enforcement.
How Does the CTA Affect Estate Planning?
The Corporate Transparency Act doesn’t just affect corporations. It is expected to have a significant impact on real estate holdings, asset protection planning, and estate planning. Many people use Limited Liability Companies (LLCs), corporations, and partnerships in estate planning for privacy and asset protection. With the Corporate Transparency Act’s new reporting requirements, these entities will face increased scrutiny, thus affecting the privacy the beneficial owners once had.
Additionally, trusts that have beneficial ownership in a business may need to comply with the Corporate Transparency Act disclosure regulations.
And, while the Corporate Transparency Act itself doesn’t directly affect tax laws, it could have indirect tax implications in relation to estate planning. Specific estate planning strategies are aimed at minimizing tax liabilities, and the new reporting requirements could influence how trusts are used in asset protection.
What Should You Do?
If you have an estate plan that involves an LLC or another entity covered by the Corporate Transparency Act, it’s essential to understand the implications of this new law and how it will impact your existing structures. Our attorneys at Lonich Patton Ehrlich Policastri can assist you. You may need to restructure assets, revise trust agreements, or explore other options for wealth preservation. We have significant experience working with individuals on estate planning and asset protection planning throughout San Jose, Silicon Valley, and the Greater Bay Area.
Contact us for a free consultation by calling (408) 553-0801. We can discuss how we can guide you through the complexities of the CTA while still achieving your estate planning goals.
Disclaimer: This article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.